RSWM has signed a binding term sheet with Ginni Filaments for proposed acquisition of its Spinning, Knitting and Processing Undertaking situated at Mathura on Slump Sale basis at an enterprise value of Rs 160 crore which is expected to be completed within ninety days of execution of term sheet subject to execution of definitive documents and receipt of necessary approvals. This acquisition is expected to result in an increase in turnover, employee strength, and plant capacity thereby marking a pivotal moment for RSWM and will establish them as market leaders.
RSWM, incorporated in 1960 as Rajasthan Spinning & Weaving Mills, has business interests in areas of yarn, fabrics, garments and denim.
